Why would you need an appraisal?To a lot of people, an appraisal is simply another cost on the break-sheet for a mortgage or refinance. While there are a budding number of automated home valuation processes that may appear more cost-effective than an appraisal, the majority of lenders still call in a local expert because the stakes are incredibly high. You might think that securing a mortgage is the only basis for getting an appraisal, but there are more cases when the services of a certified, independent real estate professional could be beneficial.
Help you dispute your tax assessment.It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from Christopher C. Call is your best evidence. I am able to assist you in appealing your tax assessment.
Assist you in lowering your mortgage paymentWhen the amount being loaned to the buyer is more than 80% of the actual value of the home, most lenders ask home owners to purchase an supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often bundled into the monthly mortgage payment and is promptly forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, I can provide you with a statement regarding the value of your home. The price you paid for the appraisal can generally be offset in a short amount of time because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce is a particularly daunting event for the parties involved, and it is often even more complicated by the strenuous decision of who maintains the home. So both parties are completely aware of the true market value of their property, it's a good idea to order an appraisal regardless of the circumstances.
The parties will have a better idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidationThe death of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Market Value for the real estate involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. And since a home or other property often makes up an unequal share of the total estate value, knowing the precise value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
RelocationEmployee relocation can be a real pain. We know where you're coming from. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our thorough process.
Selling your home quickly at the right price with an appraisalA professional appraisal can help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. The price we charge isn't related to the sales price, but rather they are calculated on our efforts to complete the appraisal.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long houses are on the market. So, getting a professional appraisal is a reliable way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.